Venezuela has launched the “Petro” cryptocurrency in an attempt to bypass tough economic sanctions imposed by the United States.
Petro is intended to bolster Venezuela’s crumbling economy, which has been suffering from hyperinflation and devaluation for years.
Venezuela claims Petro is the world’s first sovereign cryptocurrency.
Critics say the move is a desperate attempt by the government to raise cash at a time when the country lacks the ability to repay its $150 billion of foreign debt.
Opposition leaders said the sale constitutes an illegal issuing of debt, while the US Treasury Department warned it may violate sanctions imposed in 2017.
The Venezuelan government says the currency aims to circumvent US sanctions on the economy.
President Nicolas Maduro has said each tokens will be backed by a barrel of Venezuelan crude. Venezuela has the world’s largest proven oil reserves.
A total of 100 million Petros will be sold, with an initial value set at $60, based on the price of a barrel of Venezuelan crude in mid-January.
On February 20, the official website published a guide to setting up a virtual wallet in which to hold the Petro, but did not provide a link for actually doing so.
There was also no information on exchanges.
Nicolas Maduro said the presidential poll would go ahead “with or without the opposition”.
Meanwhile, the former speaker of the opposition-controlled National Assembly, Henry Ramos Allup, said the decision to call an early vote was in retaliation against recent EU sanctions against senior government officials.
Henry Ramos Allup accused the government of usurping the people’s legitimate power with the creation of the Constituent Assembly which effectively bypassed the National Assembly.
The election for the Constituent Assembly was boycotted by the opposition.
The country has for several years struggled with shortages of basic items, including food staples and medication.
President Maduro says foreign nations, and especially the US and Spain, are leading a campaign to bring down Venezuela’s socialist government.
The opposition blames corruption and the policies of the Socialist Party, which has been in power since 1999, for rampant violence and the collapse of the economy.
Nicolas Maduro was elected in April 2013 to succeed his mentor, the late Hugo Chavez, who died of cancer.
The president has urged Venezuela’s National Electoral Council to “fix the earliest possible date” to hold the poll.
Nicolas Maduro told his supporters in Caracas: “Let’s get over with this, win the president poll and put an end to the imperialist threat.
“It it was for me, the election would be held next Sunday.”
The US has expanded its travel ban to include people from North Korea, Venezuela and Chad.
According to the White House, the new restrictions follow a review of information sharing by foreign governments.
President Donald Trump issued a presidential proclamation on September 24.
He said in a post on Twitter: “Making America safe is my number one priority. We will not admit those into our country we cannot safely vet.”
The restrictions on Venezuelans apply only to government officials and their family members.
The three new countries join five others from President Trump’s original travel ban: Iran, Libya, Syria, Yemen, and Somalia. However, the new proclamation removed restrictions that were placed on Sudan.
President Trump’s original ban was highly controversial, as it affected six majority-Muslim countries, and was widely labeled a “Muslim ban”.
The travel ban was subject to a range of legal challenges and several large-scale protests, and is due to be considered by the US Supreme Court in October, having been partly reinstated in July.
The American Civil Liberties Union rights group said the addition of the new countries “doesn’t obfuscate the real fact that the administration’s order is still a Muslim ban”.
It is not yet clear how President Trump’s new proclamation, which changes several key elements, will affect that legal challenge.
The addition of North Korea and Venezuela now means not all nations on the list are majority-Muslim.
The criteria for the new ban list is now based on vetting procedures and co-operation, and the restrictions have now been “tailored” on a country-by-country basis. The White House said North Korea did not co-operate with the US government “in any respect” and failed all requirements – and so all travel to the US by its citizens has been banned. Chad, while an important counter-terrorism partner, did not share terrorism-related and other public information the US required – business and tourist visas for its nationals are suspended. Only “certain Venezuelan government officials and their immediate family members” have been banned – its government has recently been hit with economic sanctions by the US, who now say it does not co-operate “in verifying whether its citizens pose national security or public-safety threats” and does not receive deported nationals willingly.
Most of the restrictions come in the form of suspension of B-1 and B-2 business and tourist visas, and they do not appear to be time-limited in the way that President Trump’s former executive order was.
In a fact sheet accompanying President Trump’s proclamation, the White House said that while Iraq also falls short of the required criteria, the country was not included in the new restrictions “because of the close co-operative relationship between the United States” and their part in fighting so-called Islamic State.
The restrictions come into effect on October 18, but will not apply to those already in possession of a valid visa, the White House said.
As the crisis in Venezuela continues, talk of the issues escalating into civil war is becoming less far fetched by the day. And certainly, there are plenty of international oars being stuck into the pot – Donald Trump’s in particular. The reality for most of us, however, is that no matter what the news is saying, it’s impossible to get a grip on what is happening on the ground, whichever side you think is in the right.
There is another reality, though – rebel forces are growing, and the kindling for war needs only the slightest spark for things to ignite. Plus, now that President Maduro has won an election, even if you agree with the likes of Smartmatic who claim the ballot was tampered with, the simple fact is that once that constitution is rewritten, it will be challenging to defeat the current leader next time around.
With all this in mind, it’s hardly surprising the election itself was boycotted by the opposition. Given they see it as a phoney election – and with the likes of the United States starting to make less diplomatic noises from the north – it seems sensible that they are doing all they can to avoid legitimizing Maduro and his party. Mexico, Argentina, Colombia and Canada are all throwing their two cents-worth, too, so a waiting game is probably the most useful option.
But for anyone that thinks a rebellion and civil war will see a return to a thriving Venezuela, there are a few troubling questions to answer. First of all, why is President Trump taking so much interest in Venezuela right now? And why are we seeing so much about it on the news? Yes, the reports appear to be damaging for the Maduro government, but we are most definitely seeing a one-sided picture. Many other dictators around the world are going about their business in a much more violent manner, to citizens and political opponents alike, with little to no rebuke in the mainstream news. In fact, some of them have been getting arms deals while the likes of Venezuela get sanctions.
Also, there is little talk of who these rebels really are, who they are being backed by, and what their intentions are. And the reality is that when democracies – however shambolic those democracies are – fall, they are generally replaced with something far worse.
President Maduro doesn’t deserve much sympathy, of course, given the huge mistakes the government have made which have resulted in appalling economic performance. And there is no excuse for the kind of bloodshed and violence allegedly carried out by the government. But for the Venezuelan people who will, no doubt, be severely hurt by a civil war, may not be any better off after one, even if Maduro is overthrown. And there are plenty of others with blood on their hands, too, not just government forces and supporters. Should these rebels find themselves in power one day in the not-too-distant future, one wonders what that power might look like.
Puerto Rican stars Luis Fonsi and Daddy Yankee have lashed out against Venezuela’s President Nicolas Maduro, accusing him of using their song, global hit Despacito, for political gains.
President Nicolas Maduro presented an altered version of the song during his weekly TV show on July 23.
The reworked lyrics promoted Nicolas Maduro’s plans for a controversial new citizen’s assembly, which will be elected on July 30 to rewrite the constitution.
The singers branded it an outrage.
Nicolas Maduro was seen clapping along to the remix, as his audience danced.
“Our call to the <Constituent Assembly> only seeks to unite the country … Despacito!” go the new lyrics.
Luis Fonsi responded angrily on social media: “At no point was I asked, nor did I authorize, the use or the change in lyrics of Despacito for political means, and much less so in the middle of the deplorable situation experienced by Venezuela, a country I love so much.
“My music is for all those who want to listen to it and enjoy it, not to be used as propaganda that tries to manipulate the will of a people who are crying out for their freedom.”
Image source YouTube
Daddy Yankee posted a picture of President Maduro with a large red cross over it on Instagram and wrote: “That you illegally appropriate a song [Despacito] does not compare with the crimes you commit and have committed in Venezuela.
“Your dictatorial regime is a joke, not only for my Venezuelan brothers, but for the entire world.”
Despacito translates as “slowly”, referring to the speed of the lead singer’s seduction technique.
However, the Venezuelan version strips back the lyrics.
Instead, the new chorus runs: “Slowly, take your vote rather than weapons, and express your ideas. Always in peace and calm.”
Introducing the new take to an audience of supporters, Nicolas Maduro said a creative group had reworked it and he wanted to put it to the test.
“What do you think, eh?” the president asked the crowd.
The government has called on its supporters to hold rival marches.
Venezuela is deeply divided between those who support the government of the socialist President Nicolas Maduro and those who blame him for the economic crisis and want him gone from power.
Image source Wikimedia
There has been a series of anti-government protests in Caracas and other major cities, as well as marches by government supporters.
In their joint statement, the governments of Argentina, Brazil, Chile, Colombia, Costa Rica, Guatemala, Honduras, Mexico, Paraguay, Peru and Uruguay rejected the violence, which led to the deaths of six people during the recent demonstrations.
The Latin American countries called on President Nicolas Maduro “to prevent any violence against protesters” and also called on opposition groups “to exercise their right to demonstrate responsibly so that the day remains peaceful with people expressing themselves calmly”.
They also called on the Venezuela government to quickly set dates for elections to be held “to solve the grave crisis which Venezuela is experiencing and which worries the region”.
Regional elections originally due to be held in December 2016 were postponed by the electoral council to 2017, but a date has not yet been set.
Municipal elections are also due to be held in 2017.
Minister Delcy Rodriguez also wrote that “these governments misuse international law to back interventionism in Venezuela to attempt to govern the country from abroad”.
Delcy Rodriguez ended a series of tweets by saying that “there is no imperialist force in this world which can defeat the sovereign people of Venezuela”.
Almost four million Christmas toys have been seized in Venezuela after authorities arrested two executives at toy distributor Kreisel.
According to officials, the toys will be distributed to the poor.
They accused the company of hoarding toys and hiking prices in the run-up to Christmas.
Last week, the government issued an order to retailers to reduce prices on a range of goods by 30%.
Business owners say the order is a populist political move, and pushing them towards bankruptcy.
According to Venezuela’s consumer protection agency, Sundde, Kreisel had stockpiled the goods and was reselling them at a margin of up to 50,000%.
Image source Twitter
“Our children are sacred, we will not let them rob you of Christmas,” Sundde said in a tweet, along with photos and video of thousands of boxes of toys.
In total, 3,821,926 toys were seized from two warehouses, and would be sold at low prices, it said.
Sundde director William Contreras said Kreisel had claimed the toys were old or discontinued. The agency also posted photos of the two executives being marched from the premises by a squad of heavily armed soldiers.
This is not the first time Venezuela has ordered price cuts on retailers, or mobilized armed units to enforce it.
In 2013, Venezuela introduced laws allowing the government to fix prices and dictate profit margins.
The same legislation limited profits to 30% – the amount often discounted in the compulsory “adjustments” enforced by Sundde at hundreds of retailers in the past week.
The same measures have been used to fix the prices of basic products such as flour, meat and bread – but supply is limited in a country where many people go hungry.
A jar of Nutella – a luxury item – can cost half the monthly minimum wage.
Venezuela’s government is becoming increasingly unpopular as the country’s economic crisis grows.
The country is rich in oil, but international oil prices have fallen in recent years.
The IMF estimates that Venezuela’s inflation – the rate at which prices go up – will hit 2,000% in 2017.
Venezuela’s opposition leaders have staged a general strike to push for a referendum on removing President Nicolas Maduro from power.
Many stores, businesses and schools stayed closed on October 28 and public transport was quieter than usual.
However, adherence to the strike was patchy and poorer areas largely ignored it.
Nicolas Maduro, who had warned companies they risked being seized if they joined the strike, said the walkout had failed.
Speaking to crowds of supporters, the president said the oil industry had ignored the strike, as had basic industries, banks, schools and transport.
Nicolas Maduro also announced measures to offset economic hardship – mostly caused by plummeting oil prices – by promising to implement a 40% rise of the minimum wage. It was the fourth increment this year.
The move has been dismissed by analysts as insignificant when the country faces spiraling inflation.
The center-right opposition coalition is also angry over a decision to block a referendum on removing Nicolas Maduro from power in Venezuela.
The coalition won a majority in the National Assembly last December and staged huge anti-government protests earlier this week.
The mass demonstrations came after a recall referendum process – an attempt to remove Nicolas Maduro from power – was suspended.
Opposition activists had gathered about 1.8 million signatures petitioning for the referendum, 400,000 of which were validated by electoral authorities.
The process was halted last week after officials said the signature collection process had been marred by fraud.
Parliament voted on October 25 to open a trial against Nicolas Maduro, whom lawmakers accuse of violating the constitution.
The president called it a “political trial” and said anyone who violated the constitution by launching it should be jailed.
Nicolas Maduro, a former bus driver and union leader, is blamed by the opposition for Venezuela’s dire economic situation and widespread food shortages.
In turn, he has accused the opposition of having links to foreign states, the US in particular, and of seeking to overthrow him to “lay their hands on Venezuela’s oil riches”.
Under Venezuela’s constitution, a recall referendum can be held once a president has served half of his term in office and the requisite steps are met.
So far, the opposition has only completed the first step of the process.
In a surprise move, Venezuela opposition and the government are to meet for crisis talks, the Vatican says, after an intervention from Pope Francis.
Protests have been held in recent days over the suspension of a referendum process seeking to remove President Nicolas Maduro.
The move came after Nicolas Maduro met Pope Francis in an unannounced visit.
The Vatican and regional bloc Unasur will mediate in the talks.
Pope Francis “urged [the parties] to show courage in pursuing the path of sincere and constructive dialogue”, the Vatican said in a statement.
After meeting representatives from both sides, the Vatican’s envoy to Argentina, Emil Paul Tscherrig, said “a national dialogue” had already started.
He said they had agreed to formal talks on Sunday on Margarita island in the Caribbean.
Nicolas Maduro said “at last” dialogue could begin.
The head of the opposition coalition, Jesus Torrealba, who met Emil Paul Tscherrig, said while talks were important “it can’t continue to be a strategy for the government to win time”.
Another top opposition figure, Henrique Capriles, dismissed the announcement as a diversionary ploy.
“No dialogue has begun in Venezuela,” he said.
Nicolas Maduro, a former bus driver and union leader, is blamed by the opposition for Venezuela’s dire economic situation. The oil-rich country is facing widespread food shortages and spiraling inflation.
The opposition is trying to hold a recall referendum that would allow Nicolas Maduro to be removed from office but electoral authorities suspended the process last week.
The official reason was allegations of fraud during the gathering of signatures for the first petition required to enable the referendum.
However, opposition lawmakers have long accused the National Electoral Council of being under the government’s control.
In an emergency session of the National Assembly on October 23, they approved a resolution accusing Nicolas Maduro’s Socialist government of engaging in “an ongoing coup d’etat”.
The Organization of American States also said it was “profoundly worried” by the electoral authorities’ decision.
Hundreds of students protested on October 24 in San Cristobal, a city near the Colombian border. Nationwide protests are planned for October 26.
Nicolas Maduro has accused the opposition of having links to foreign states, the US in particular, and of seeking to overthrow him to “lay their hands on Venezuela’s oil riches”.
Venezuela’s opposition plans to speed up moves to oust the government of President Nicolas Maduro after it took control of the National Assembly.
Parliament speaker Henry Ramos Allup said proposals would be presented in a matter of days – rather than months.
A day earlier, Nicolas Maduro was given backing by the Supreme Court for a declaration of economic emergency, giving him greater powers.
The country is facing a shortage of many staple goods and rampant inflation.
Venezuela’s economy is heavily dependent on oil exports and has suffered substantially in the past year given the sharp fall in crude oil prices in international markets.
Energy rationing has been imposed, blamed by government ministers on critically low water levels caused by drought at 18 of the country’s hydro-electric dams.
The National Assembly speaker and other opposition leaders had previously announced they planned to challenge Nicolas Maduro in six months’ time.
However, Henry Ramos Allup now says Venezuela cannot afford to wait.
“Nobody doubts now that that six-month timeframe is too long,” he said.
“It is not we who impose the timing, it is the needs of the country.”
“In the next few days we will have to present a concrete proposal for the departure of that national disgrace that is the government,” he told a news conference.
Henry Ramos Allup called on President Nicolas Maduro to revoke the decree on emergency measures.
He also attacked the Supreme Court over the decree, saying if what it “has done is not a coup, I don’t know what to call it”.
Most if not all Supreme Court judges have been appointed either by Nicolas Maduro or his predecessor, the late Hugo Chavez. It rarely rules against the government.
Nicolas Maduro defended the court’s ruling and said the measures were necessary to deal with the crisis.
“This decision was taken by the highest court of the country, in accordance with the constitution,” the president said.
Nicolas Maduro’s decree was issued on January 14. It is valid for 60 days and it can be renewed by the president.
The government says businessmen linked to the opposition have been hiding basic staples such as flour, sugar and toilet paper as part of a strategy to undermine the economy and oust Nicolas Maduro’s democratically elected government.
He was elected in April 2013 to a six-year term, replacing Hugo Chavez, who died of cancer after 14 years in office.
The Venezuelan constitution says that a referendum to replace the president can be called any time after the first three years of his term, which will be in April 2016.
Four million signatures are needed to trigger a recall referendum.
The governing Socialist Party suffered a heavy defeat in December’s legislative election. It lost control of the National Assembly for the first time in 16 years.
Eight Brazilian senators visiting Venezuela to meet jailed opposition leader Leopoldo Lopez say they had to flee after their bus was attacked.
The Brazilian opposition politicians were trying to meet former mayor Leopoldo Lopez, who is in jail accused of inciting violence during protests.
The senators said the bus was stoned as it travelled from Caracas airport.
Brazil’s foreign ministry says it will seek an explanation from the Venezuelan government.
One of the senators, Ronaldo Caiado, tweeted: “Our bus was under siege; they were beating and trying to break it. I filmed them throwing stones against the bus.”
Another, former presidential candidate Aecio Neves, said: “We are here to defend democracy and until now the Venezuelan government has shown little appreciation of it.”
The group returned to the airport and is reportedly waiting to go back to Brazil.
The incident occurred a few hours after the senators landed in Caracas airport.
Earlier this month former Spanish PM Felipe Gonzales left Caracas earlier than expected after his attempts to speak to Leopoldo Lopez, who has been in jail for more than a year.
Leopoldo Lopez is accused of inciting violence during protests last year. More than 40 people, from both sides of the political divide, were killed in months of demonstrations against the government of Nicolas Maduro.
President Nicolas Maduro’s government is wary of foreign support of Venezuelan opposition leaders.
The Brazilian Foreign Ministry said hostile acts against its politicians were unacceptable and promised to seek an explanation from Venezuela.
It released a statement June18 saying:“The Brazilian government regrets the incidents that affected this visit to Venezuela.”
“Hostile acts from protesters toward Brazilian lawmakers are unacceptable,” the statement added.
Venezuela’s President Nicolas Maduro has granted a flat to a woman after she made her point by hitting him on the head with a mango.
Marleny Olivo threw a mango at Nicolas Maduro while he was driving a bus through the central state of Aragua.
It had a message on it, in which she pleaded for his help.
President Nicolas Maduro displayed the mango with Marleny Olivo’s telephone number on it during a live television show afterwards. He said he had agreed to her request for a flat.
The move, the president said, was part of the “Great Housing Mission of Venezuela”.
Marleny Olivo had written a message on a mango: “If you can, call me” – along with her name and phone number. She got as close to the bus as she could when it passed and then tossed the mango at Nicolas Maduro.
In a video that has gone viral in Venezuela, Nicolas Maduro can be seen lowering his head when he is hit just above the left ear. He then calmly picks up the mango and displays it to the crowd.
Later he discussed the incident in one of his regular live TV broadcasts in which he displayed the infamous mango.
“She had a housing problem, right? And, Marleny, I have approved it already, as part of the Great Housing Mission of Venezuela, you will get an apartment and it will be given to you in the next few hours.
“Tomorrow, no later than the day after tomorrow, we will give it to you.”
Marleny Olivo said that there was “no evil intent” behind the incident only a desire to fulfill her dreaming of owning a home before she dies.
Nicolas Maduro – who is a former bus driver and likes to connect with ordinary Venezuelans by touring local communities at the wheel of a coach – added that the mango was ripe and that he would eat it later.